Executive Search Services

The Teacher Retirement System of Texas (TRS) is seeking qualified vendors to provide Executive Search Services for its Investment Management Division, specifically targeting senior-level roles within the Private Market units—including Private Equity, Real Estate, and Energy/Infrastructure & Resources—as well as the Special Opportunities team. The contract, issued as a Request for Proposal under solicitation number TRS000670, has a posted date of July 13, 2026, with proposals due by August 12, 2026, at 3:00 p.m. Central Time through the PAVES portal. The initial contract term is three years, effective January 30, 2027, through January 29, 2030, with two optional one-year renewal periods subject to TRS’s written notice, and a unilateral 180-day extension right reserved by TRS. Contractors must source, vet, and recommend candidates using their own processes, with minimum experience requirements ranging from one to seven years depending on position level, and may also be asked to support select Public Market roles. Deliverables include weekly status updates, detailed quarterly reports of all submitted candidates, and final confirmation only occurs upon written email verification from IMD that a candidate has accepted an offer and completed their first day of employment. All pricing must be submitted via the prescribed Price Form using one of three methodologies: percentage of total compensation, fixed fee by job level, or additional fees explicitly outlined, with no payment permitted for unlisted costs. The contract requires full compliance with Texas Government Code Chapter 2260, the Texas Public Information Act, and various statutory certifications including antitrust, child support, executive head employment restrictions, and prohibitions on boycotts of Israel. Contractors must maintain general liability, professional liability, and workers’ compensation insurance with specified limits, and are obligated to indemnify and hold harmless the State of Texas and TRS. Records must be retained for seven years after contract expiration, and invoicing must be submitted through PAVES within 30 days of a candidate's first day of employment, with payment due within 30 days of receipt of an undisputed invoice governed by the Texas Prompt Payment Act. Contractors must undergo cybersecurity training, comply with Texas AI Code of Ethics requiring disclosure of AI vulnerabilities and implementation of a risk management framework, and adhere to the TRS Background Check Policy, including reimbursement for any mandated background checks conducted by TRS. Key personnel must be identified, and the contractor must engage in